A Comprehensive Guide On Franchising Your Business
Join 1000's of Authors at StreetArticles Today!

A number of people dream of having their own business and being their own boss. But the process is daunting- managing investment, hiring employees, providing training, and so much more. This is where buying a franchise of a renowned brand comes into picture. Alongside, as a business owner, if you have been pondering for a while on how to expand your business network and leave your footprints just about everywhere, FRANCHISEE is certainly the answer to all your questions. But, how do you go about it? We bring to you a comprehensive guide on starting as a franchise company. Explore!

Evaluate your Business Concept: The first step is to ask if your business is well-suited for franchising or not. The aim is to evaluate if your business concept would appeal to end customers and prospective franchisees or not.

Check Your Financial State: While franchising your business can lead to a number of benefits including financial, it is recommended to check how your business is performing in the competitive market.

Conduct Market Research: Having in-depth understanding of the target market as well as your industry is a must. So, make sure you understand the marketplace before trying franchising.

Prepare to Provide Ongoing Support: When franchisees will work under you, you will have to provide them ongoing training and support to ensure their success as well as your own.

Know the Legal Requirements: In a bid to sell your franchises in India or abroad, you will have to comply with certain legal requirements and decide the following terms beforehand:

• Terms of franchise agreement

• Franchise fee and amount of royalty

• Geographic areas you want to expand in

• How to market the franchisees

• Preparing training documents

And more!

Complete the Legal Paperwork and Register as a Franchisor: The next step entails completing the legal paperwork and submitting it to authorities for approval.

Hire Skilled Personnel: Once you register as a franchisor, you would be required to hire skilled and experienced staff that can assist franchisees set up their business and attain success. You can hire people with positions like trainer, marketing assistant, creative director and franchise-process manager to manage all the tasks proficiently.

Sell Your Franchisees: Entering the industry as a franchisor, the final step is to find prospective franchisees and sell your concept. Your sales personnel must be well-equipped with your business concept and strongly pitch to garner investment.

Support Your Franchisees: Your job doesn’t end at selling franchisees. You have to provide ongoing support to your franchisee network so that they maintain quality, grow and succeed with you.


Street Talk

No comments present
You May Also Like
Finding Love In New York City is Easy With Craigslist!
It's no secret that New York City is a huge place. It can be quite intimidating to someone who has newly relocated to the area and doesn't know anyone. And these days, it's hard to trust meeting anyone over the internet. With so many horror stories swirling around the issue,…
By: Makowski Piotr Dariusz in  Business  >  Franchising   Feb 29, 2016  
0
  Likes: 0

PCD Pharma Franchise In India - Here's A Quick Way to Franchise
India is one of the global leaders of the pharmaceutical industry. Being the third-largest in terms of volume and 14th in terms of value in the world, the country has a pharmaceutical industry that has the value of more than 20 billion US dollar. The export of pharmaceutical products is…
By: Aditya Bhushan in  Business  >  Franchising   Nov 22, 2013  
0
  Likes: 4

Relax Yourselves With Mobile Massage In BC
Massage is one of the most booming businesses in this era. It earlier used to be considered a thing of luxury, however with the changing times it has moved out of the four walls of health club and luxury spas. These days massage therapies are extensively offered in hospitals, airports…
By: Nathaniel Hilson in  Business  >  Franchising   Jun 02, 2014  
0
  Likes: 0

Slated to Host 5th Edition Of the Biggest B2b Franchise Expo – Rise - In Chandigarh: Co - founder Naina Bedi
1000 Overseas Franchise Pvt Ltd presents the 5th Edition of RISE in Chandigarh Come and leverage the opportunity to meet the most prospective business owners and investors! June, 2015 New Delhi After the huge success of the 4th edition of RISE at Jaipur, 1000 Overseas Franchise Pvt Ltd is geared…
By:  in  Business  >  Franchising   Jun 18, 2015  
0
  Likes: 0

Pinup Campaigns
However, what the staff of Pinup Campaigns found was that some people fail to help themselves, with Ms. Guzowski stating. “We have people giving us campaigns and basically saying “Here, you said you help promote so make me some money. I wrote the campaign so I’m done” This mentality will…
By: humza in  Business  >  Franchising   Aug 17, 2015  
0
  Likes: 0

Increasing the Intensity:when to Start Looking at Pro Scooters For Sale
If you’re considering installing new flooring in your older home or you’re trying to choose flooring for a new build, you’re likely thinking about real hardwood floors first. Why? Because everyone loves the warmth and feel of real wood; but in 2015, you can get all the advantages of real…
By: Natasha R. Wing in  Business  >  Franchising   Apr 22, 2015  
0
  Likes: 0

Franchising Makes Sense to the Savvy Business Owner
In business "but not by yourself" is a very enticing franchisor ploy to a first time entrepreneur. Actually, there are many searsoned business owners who like the franchise option vs going it alone. Maybe there's comfort in being part of a bigger enterprise or a feeling of security or greater…
By: Don Monteith in  Business  >  Franchising   Nov 08, 2011  
0
  Likes: 0

Sony Vtc4 18650 - An Ideal Rechargeable Battery
You are searching for 18650 batteries, the Sony VTC4 ideal for any application due to the top quality and drain features. Enjoy exceptional, continuous 30amp output without pulsing. You need to a sub-ohm or micro-coil unit, the Sony VTC4 best rechargeable battery to produce the best quality vape. We have…
By: lisajohn390 in  Business  >  Franchising   Feb 16, 2015  
0
  Likes: 0

Should I Use A Franchise Consultant?
Buying a franchise can be a daunting task. Researching the thousands of franchise opportunities available can be both time-consuming and costly. Franchise consultants can help in this search, doing most of the work for you. But sometimes I hear or read negative talk about franchise consultants. In full disclosure, I…
By: Brett Bond in  Business  >  Franchising   Nov 02, 2011  
0
  Likes: 2

Join 1000 Franchise at Rise: A B2b Franchise Expansion Show
1000 Overseas Franchise Pvt Ltd Set to Host 4th Edition of the Biggest Franchise Expo – RISE - in Jaipur 1000 Franchise Welcomes You at R.I.S.E: The Biggest B2B Franchise Expansion Show Join us! We can help you expand your roots here and there, everywhere! May 2015 New Delhi RISE…
By:  in  Business  >  Franchising   May 07, 2015  
0
  Likes: 0

Home Security System An Appropriate System to Protect Your House
Home Security System Understanding this necessity of the hour, there have come forward loads of reliable house alarm companies to make available affordable security options do not which you can keep your home and abode a safe haven for your near and dear ones. Therefore, requiring installing the correct method…
By: breauxfrankie in  Business  >  Franchising   Feb 06, 2015  
0
  Likes: 0

Driving Factors Of PCD Pharma Companies Growth In India - Cost And Skilled Workforce
A lot of pharma manufacturer in India has cropped up since the recent years. The investments in this field have poured in from various quarters including FDI’s. The trend clearly indicates the fact that a number of opportunities lie ahead in this field in this country. There are in fact…
By: Aditya Bhushan in  Business  >  Franchising   Dec 03, 2013  
0
  Likes: 0

Why Buying A Franchise Can Be A Good Investment
Buying a franchise can be a great investment for those who are looking to own their own business. Many people, especially now, are looking to be their own boss rather than working for companies who no longer have any loyalty to their employees. We've all heard the horror stories, or…
By: Brett Bond in  Business  >  Franchising   Nov 02, 2011  
0
  Likes: 2

Why Not to Buy A Franchise
If you are looking to own a business, a franchise business has many advantages, not the least of which is the higher chance for success. But that doesn't mean everyone who wants to own a business should buy a franchise. Franchises are not for everyone, and we will take a…
By: Brett Bond in  Business  >  Franchising   Nov 02, 2011  
0
  Likes: 3

Yogurt Franchise Education: Opening A Frozen Yogurt Franchise
When customers visit a popular frozen yogurt franchise, they expect to enjoy the same tasty menu options and quality service that other franchise locations offer. As an investor who is thinking about investing in a frozen yogurt franchise, you understand that the menu options, customer service and overall experience that…
By: Adam Montie in  Business  >  Franchising   Mar 21, 2013  
0
  Likes: 0

Article Views: 763    Report this Article